THE SNAIL’S PROGRESS OF YANKEE ECU FUTURES
Slow growth in America’s futures and options contracts on the European Currency Unit is forecast by several US banks. “We expect the contract to be a real sleeper,” said one trader, “and it’s likely to stay that way for quite some time.”
Futures contracts that developed from well-established cash markets have often taken time to get going; Ecu futures are a new contract on a market which in Europe is only seven years old.
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